The logistic, economic and sustainability challenges of modern globalization revealed by the COVID-19 pandemic

Abstract

Research background: The COVID-19 pandemic revealed many problems in global logistics, economy and sustainability. Very long time the globalization has been seen as the motor of international development and prosperity. Because the COVID-19 pandemic the global logistics has seriously affected (for example air and sea logistics), especially European and US economies have experienced serious setback and even the global sustainability has been under turmoil. Purpose of the article: In this article the major logistic, economic and sustainability challenges revealed by the COVID-19 pandemic during the years 2020 and 2021 will be researched and the research aims to define, how the global logistics, economy and sustainability have been affected and especially which of these changes can be seen irreversible. The world has already started the change of economic paradigm manifested by the Financial Times on September 18th 2019 in their article “Capitalism: Time for a Reset”. All the aspects highlighted by FT were catalysed by COVID-19 pandemic and now it is time to define, how we can use this experience for creation of the new globalization paradigm. Methods: The main method of creating this article is to find and analyse recent practical information about challenges, development and solutions in logistics, economics and sustainability. Findings & Value added: The main finding of this article is to create a holistic overview about what happened and what has been done in global logistics, economy and sustainability and how the post-COVID-19 ought to deal with globalization. The world will never return back to the status quo which was before the new economic paradigm and COVID-19, so it is necessary to understand, how our globalized world will change in the future.